Den Braven sees turnover grow by 30 percent in the first ten months

The local subsidiary of Dutch polyurethane foams and adhesives producer Den Braven reports a EUR 33.7 million turnover for the first ten months of the year, 30 percent more against the same period of 2009. By the end of the year the company expects to reach EUR 37 million, about 20 percent more than in 2009.

The increase was mostly generated by exports which grew by 71 percent compared to the first ten months of 2009, reaching EUR 16.6 million according to Adrian State, general manager of Den Braven Romania. The company exports to 32 markets after entering Lithuania, Argentina and Vietnam in 2010.

“We have also managed to increase local sales as well as the number of our Romanian clients despite the fact that the local construction materials’ market fell by over 50 percent and about 80 Romanian companies go bankrupt daily”, State explains. The lack of cash liquidities and large scale construction projects has determined local consumers to purchase materials in smaller quantities and through specialized stores. “Sales through our key-account networks went up by over 55 percent on average, and in some cases by 100 percent”, said the GM. The company said it invested in expanding its sales team and increased salaries by about 10 percent.

This summer, the Den Braven group was taken over by two Dutch investment funds, Egeria in partnership with Wagram, which have acquired its majority share package.

Simona Bazavan

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